The Premiere Website For Police News In Texas

          



 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme
Plano, Texas
   
 
More Today's News:
ߦ   Sheriff Pleads For Help For His Cancer Stricken Deputy
ߦ   Detective Dies On Duty Of Massive Heart Failure
ߦ   Wisconsin shootings: Police officer, 3 others killed; suspect in custody
ߦ   Officers Forgot about The Security Cameras. Now Watch what Happened in Elevetor
ߦ   A cop fires. A teen dies. Yet six police body cameras somehow miss what happens.
ߦ   Activists Are Launching A National Effort To Stop Rape Kits From Going In The Trash
ߦ   Armed Sugar Land suspect allegedly got up early to rob 2 Walmarts, a gym and a Kroger
ߦ   'Bones Marie,' accused of pimping 14-year-old girl, could face prison
ߦ   Burnet County Sheriff's Office - Inmate/Arrests Summary
ߦ   CFPD earns ‘Recognized Law Enforcement Agency’ award
ߦ   Chicago Facebook Live gang rape: Suspects sought as family speaks out
ߦ   Conceal carry gun bill would allow states to cross-honor permits
ߦ   Crowded Shelter Prompts Special Adoption Fees
ߦ   Dallas Man Indicted in East Texas Investment Fraud Scheme
ߦ   Deputies Capture Pair After Car, Foot Chase
ߦ   Family of missing former FBI agent sues Iran for kidnapping and torture
ߦ   Federal Judge Says Immigration Raids Were In Retaliation For Sheriff’s Sanctuary Policies
ߦ   Freedom from Religion files suit against Montgomery Co. JP over courtroom prayers
ߦ   Galveston County Daily Arrests Summary
ߦ   Houston Man Guilty in Beaumont IH-10 Drug Trafficking
ߦ   Illegal immigrant sisters allege they were sexually assaulted by border agent
ߦ   Jury Convicts Two in Methamphetamine Distribution Conspiracy
ߦ   LA City Employees Barred From Helping Federal Immigration Authorities
ߦ   Magnolia authorities searching for driver in hit-and-run that killed motorcyclist
ߦ   Montgomery County Sheriff’s Office New Look
ߦ   Parents' emotions raw in wake of rape at Maryland high school
ߦ   Police continue search for killer of Humble man
ߦ   Police News Links
ߦ   Surveillance Photos: Aggravated Robbery
ߦ   Tennessee manhunt: Kidnapping suspect researched 'teen marriage,' officials say
ߦ   Texas is second only to California in human trafficking
ߦ   Vegas man kills ex-girlfriend, burns body after she calls him lazy, prosecutor says
ߦ   White man traveled to New York to kill black men and ‘make a statement,’ police say
ߦ   SUBSCRIBE To Texas Police News
ߦ   Employment

   Next >>
 
Search Archives:

FOR IMMEDIATE RELEASE                DAVILYN WALSTON

           THURSDAY, MARCH 9, 2017        PUBLIC INFORMATION OFFICER                

http://www.usdoj.gov/usao/txe  

 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme

 

PLANO, Texas – Dallas County twin brothers were sentenced to prison for federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Brit Featherston today.

 

Roger Harvey Wagner, of Grand Prairie, Texas and Rodney Lee Wagner, of Cedar Hill, Texas, each pleaded guilty on July 7, 2016, to conspiracy to commit wire fraud and were sentenced to 48 months in federal prison on Mar. 8, 2017, by U.S. District Judge Amos Mazzant.  The 52-year-old twins were also ordered to pay restitution in the amount of $1,895,318.62.

 

           According to information presented in court, the Wagner brothers perpetrated what amounted to a Ponzi scheme that caused investors to lose over $2.1 million. From February through November 2010, the brothers solicited money from investors to be invested in foreign currency trading.  The brothers promised investors they would be repaid their principal plus a fixed rate of return that would be paid out to them over a series of weeks.  Very little of the invested money was used for foreign currency trading, and prosecutors contended the money received from the latest investors was used to repay earlier investors to keep them lulled. 

 

            "These scams, unfortunately, are in our midst,” said Acting U.S. Attorney Featherston.  “I encourage all potential investors to fully investigate any investment opportunity before handing over hard earned money.  If a deal sounds too good to be true, as the saying goes...it usually is!  These two individuals may not wear a mask over their face and may not carry a gun, but they are as much a thief as those that do, and they deserve the just punishment handed down by the court."
                       

This case was investigated by the Texas State Securities Board and the Federal Bureau of Investigation and was prosecuted by Assistant U.S. Attorneys Andy Williams and Tom Gibson. 

Post a comment
Name/Nickname:
(required)
Email Address: (must be a valid address)
(will not be published or shared)
Comments: (plain text only)
Printer Friendly Format  Printer Friendly Format    Send to a Friend  Send to a Friend    RSS Feed  RSS Feed
  Facebook   Share link on Twitter Tweet  


© 1999-2017 The Police News. All rights reserved.